It is a good announcement on the face of it, but the one factor...

It is a good announcement on the face of it, but the one factor missing from the announcement and one that is a major factor in getting the gas up the pipe, something that was mentioned in the initial discovery announcment.
Porosity. It was stated as average.
I do understand this can only now be measured when well tests are undertaken later this year.
As Ken says in this announcement.
Subject to a successful test and the successful conversion of contingent resources to reserves,Red Gully North-1 will play an important role in strengthening Empire’s existing production hub, leveraging the company’s 100% owned infrastructure, further providing production margins and significantly increasing cashflow.”

Why not announce it as it is without clouding the issue?

To put it another way Warro is a tight gas field and requires fracking to get the gas out.
Does the additional drilling that is required to recover the contingent resources at RGN-1 mean the well has to be fracked?
More expense and where is that coming from I wonder? It is not cheap.


DYOR